Are Bay Area Housing Markets Getting the Jitters? June’s Median Price Growth Doesn’t Suggest So
Most Bay Area housing markets did not see more price reductions year over year. Sonoma County was the only region where price reductions increased compared with last June; however, that housing market is still going through an adjustment period following last fall’s wildfires.
Figure 4: Absorption rates of total inventory by Bay Area county
Source: Terradatum, Inc. from data provided by local MLSes, July 7, 2018
Finally, the Bay Area’s median home price growth certainly does not suggest a market slowdown. The region’s June median home price was up by 16 percent year over year, with gains ranging from 9 percent in San Francisco to 23 percent in Santa Clara County. Read more on the @bethanywpatten
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